HSBC BUY-TO-LET GUIDE TO THE UK MARKET
2016-03-27
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The number of applications from China and Hong Kong rose from more than 17,000 last year to 21,000 this year. Student tenants are increasingly an important group for the property market.
Altrincham in Trafford, Greater Manchester has been named The Sunday Times' Best Place to Live in the UK 2020, with first-class food and drink, a great community, a thriving outdoor market and two of the best schools in the northwest.
Hong Kong residents are buying more houses and apartments to lease out for income in Britain, and have became the fifth largest foreign investors in central London as of last August, driving up prices in some popular districts outside the UK capital.
Manchester and Birmingham will see rises of 20 to 30 per cent over the next three to four years, based on the shape of the regional economy and the trajectory of the current housing market cycle.
Millions of leaseholders will be given a new right to extend their lease by 990 years. Changes could save households from thousands to tens of thousands of pounds. Elderly also protected by reducing ground rents to zero for all new retirement properties.